EnCap

Matador Resources Company Announces Strategic Bolt-On Delaware Basin Acquisition

Retrieved on: 
onsdag, juni 12, 2024
Oil, Gas, Natural Resources, Energy, Mining, Minerals, Other Energy, Acquisition, PD, PNC Financial Services, Natural gas, EnCap, Adjustment, British thermal unit, Growth, LLP, Vinson & Elkins, Friends, History, JPMorgan Chase, Public expenditure, DUC, Central Time, EnCap Investments

The consideration for the Ameredev Acquisition will consist of a cash payment of $1.905 billion, subject to customary closing adjustments.

Key Points: 
  • The consideration for the Ameredev Acquisition will consist of a cash payment of $1.905 billion, subject to customary closing adjustments.
  • Matador’s management will host a live conference call to discuss the Ameredev Acquisition on Wednesday, June 12, 2024 at 10:00 am Central Time.
  • Foran, Matador’s Founder, Chairman and CEO, commented, “Matador is very excited to work with EnCap again on this strategic bolt-on opportunity (see Exhibit A).
  • This acquisition also positions Matador for continued success and growth throughout 2024, 2025 and into the future as one of the top ten producers in the Delaware Basin (see Exhibit E).

EnCap Energy Transition Closes $1.5 Billion Energy Transition Fund II

Retrieved on: 
onsdag, maj 8, 2024
Professional Services, Environment, Sustainability, Alternative Energy, Environmental Issues, Energy, Finance, Carbon, Vinson & Elkins, EnCap, Renewable energy

EnCap Energy Transition (EnCap) today announced it has successfully closed EnCap Energy Transition Fund II (EETF II) with commitments of approximately $1.5 billion.

Key Points: 
  • EnCap Energy Transition (EnCap) today announced it has successfully closed EnCap Energy Transition Fund II (EETF II) with commitments of approximately $1.5 billion.
  • EnCap’s second energy transition fund was created to invest in solutions to decarbonize the power industry, while also opportunistically investing in low carbon fuels and carbon management.
  • “The EnCap Energy Transition team is proud to have raised a sizeable pool of capital to continue to invest in the opportunity created by the shift to a lower-carbon energy system.
  • The second energy transition fund follows EnCap Energy Transition Fund I that had $1.2 billion of total commitments with seven material portfolio company investments and four fund realizations to date including Broad Reach Power, Jupiter Power, Triple Oak, and Paloma Solar & Wind.

Catalyze Announces Commercial Operation of Renewable Energy Installations for 66 Galen

Retrieved on: 
torsdag, april 18, 2024
Technology, EV, Electric Vehicles, Environmental Policy, Automotive, Batteries, Alternative Energy, Energy, Commercial Building & Real Estate, Construction & Property, Building Systems, Environment, Sustainability, Semiconductor, Green Technology, LEED, Laboratory, Energy transition, Water, SMART, EnCap, BDG, LED, ESG, Gold, Multimedia, C&I, Renewable energy

View the full release here: https://www.businesswire.com/news/home/20240418634106/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240418634106/en/
    66 Galen Street, located in Watertown, Massachusetts, is a 224,106 square-foot Class A life science building featuring modern, purpose-built offices and laboratories.
  • “We’re thrilled to bring this project online, marking another milestone in our commitment to innovative development,” said Jared Haines, CEO of Catalyze.
  • “The completion of the 66 Galen facility underscores Davis’ and Boston Development Group’s dedication to creating modern, sustainable spaces that elevate communities.
  • To support this project, Catalyze participated in the Solar Massachusetts Renewable Target (SMART) program, which offers incentives for residential and commercial solar projects throughout Massachusetts.

Renewable Energy Development Backer EnCap Energy Transition Enters Tax Credit Finance Space, Launches Bildmore

Retrieved on: 
måndag, mars 11, 2024
Other Energy, Utilities, Batteries, Finance, Alternative Energy, Energy, Professional Services, Technology, Wind, IRA, EnCap, Sale, Economics, ETF, Renewable energy

EnCap Energy Transition Fund (ETF) announced today it is launching Bildmore , a platform focused on investing in passive minority equity positions in third-party battery storage, solar, and other energy transition projects that cannot attract traditional renewable “tax equity” financing.

Key Points: 
  • EnCap Energy Transition Fund (ETF) announced today it is launching Bildmore , a platform focused on investing in passive minority equity positions in third-party battery storage, solar, and other energy transition projects that cannot attract traditional renewable “tax equity” financing.
  • The 2022 Inflation Reduction Act (IRA) provides numerous incentives to targeted clean energy projects, including the ability to sell their tax credits to corporate taxpayers.
  • The projects will require access to significant private capital from a variety of sources and forms in order to be built.
  • We want to help those development teams lacking the deep balance sheets typically required by tax equity providers,” Haug said.

XCL Resources Seeks FTC’s Prior Approval for Altamont Energy Acquisition

Retrieved on: 
tisdag, april 2, 2024
Carbon, Natural gas, Federal Register, Regulations.gov, Register, Social media, Blog, News, Acquisition, EnCap, XCL, Federal Trade Commission, FTC, Oil

The Federal Trade Commission is requesting public comment on an application from XCL Resources Holdings, LLC, a subsidiary of private equity firm EnCap Investment L.P., seeking prior approval from the agency to complete its proposed acquisition of Altamont Energy, LLC, an oil and gas operator in the Uinta Basin region of Utah.

Key Points: 
  • The Federal Trade Commission is requesting public comment on an application from XCL Resources Holdings, LLC, a subsidiary of private equity firm EnCap Investment L.P., seeking prior approval from the agency to complete its proposed acquisition of Altamont Energy, LLC, an oil and gas operator in the Uinta Basin region of Utah.
  • XCL’s petition to the FTC stems from the Commission’s 2022 final order regarding EnCap Energy Capital Fund XI, L.P.’s $1.445 billion acquisition of EP Energy Corp.
  • XCL is a private equity-owned oil and gas company based in Houston, Texas.
  • For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.

Energy Capital Partners Acquires Triple Oak Power from EnCap Investments L.P.

Retrieved on: 
tisdag, januari 9, 2024
Other Energy, Environment, Sustainability, Alternative Energy, Green Technology, Energy, Wind, LLP, Natural Resources, Electricity, ECP, Partnership, Latham & Watkins, History, EnCap Investments, Partner, Marathon Capital, Mercuria, EnCap, Sidley Austin, Growth, Renewable energy

Energy Capital Partners (“ECP") today announced that it has acquired Triple Oak Power ("Triple Oak") from EnCap Energy Transition Fund I (“EnCap") and its co-investors, Yorktown Partners and Mercuria Energy.

Key Points: 
  • Energy Capital Partners (“ECP") today announced that it has acquired Triple Oak Power ("Triple Oak") from EnCap Energy Transition Fund I (“EnCap") and its co-investors, Yorktown Partners and Mercuria Energy.
  • "ECP is excited to work with Triple Oak Power to execute our shared mission of delivering cost-effective, clean energy to consumers," said Schuyler Coppedge, Partner at ECP.
  • "We are proud of the platform that the Triple Oak team has created alongside our partner, EnCap, and we are thrilled to partner with ECP in the next chapter of growth for Triple Oak Power," said Jesse Gronner, CEO of Triple Oak.
  • Marathon Capital acted as the exclusive financial advisor to EnCap and Triple Oak on the transaction, and Sidley Austin LLP served as legal counsel to EnCap and Triple Oak.

1979 Royalties, LP Announces Northern Midland Basin Minerals & Royalty Acquisition From Peacemaker Royalties, LP for $61 Million

Retrieved on: 
torsdag, september 28, 2023
Energy, Natural Resources, Mining, Minerals, Oil, Gas, EnCap, Vinson & Elkins, Acquisition, EnCap Investments, NRA, Total, Music, Financial adviser

1979 Royalties, LP (“1979 Royalties”) a subsidiary of Endeavor Energy Resources (“Endeavor”), today announced it has closed the acquisition of oil & gas mineral and royalty interests from Peacemaker Royalties, LP (“Peacemaker”), a portfolio company of EnCap Investments, LP (“EnCap”), in the Midland Basin, West Texas for $61 million in cash.

Key Points: 
  • 1979 Royalties, LP (“1979 Royalties”) a subsidiary of Endeavor Energy Resources (“Endeavor”), today announced it has closed the acquisition of oil & gas mineral and royalty interests from Peacemaker Royalties, LP (“Peacemaker”), a portfolio company of EnCap Investments, LP (“EnCap”), in the Midland Basin, West Texas for $61 million in cash.
  • The divested properties cover approximately 5,000 Net Royalty Acres (normalized to 1/8th royalty) (“NRA”) in Martin and Dawson Counties and are primarily operated by Endeavor and Ovintiv Inc., which recently completed its $4.275 billion acquisition of multiple Midland Basin operators including Peacemaker’s affiliated operating company PetroLegacy Energy II.
  • Vinson & Elkins served as legal advisor to 1979 Royalties.
  • Detring Energy Advisors served as exclusive marketing advisor to Peacemaker, and Davis, Gerald & Cremer served as its legal advisor.

ENGIE accelerates in battery storage through the acquisition of Broad Reach Power in the United States

Retrieved on: 
torsdag, augusti 24, 2023
EnCap, Electricity, Growth, Acquisition, ENGIE, Duck Reach Power Station, Cryptocurrency

France, Aug. 24, 2023 (GLOBE NEWSWIRE) -- ENGIE announces it has signed  a binding agreement for the acquisition of 100% of Broad Reach Power, a company specialized in battery storage and based in Houston, from private equity funds EnCap and Apollo.

Key Points: 
  • France, Aug. 24, 2023 (GLOBE NEWSWIRE) -- ENGIE announces it has signed  a binding agreement for the acquisition of 100% of Broad Reach Power, a company specialized in battery storage and based in Houston, from private equity funds EnCap and Apollo.
  • The projects are located in Texas, California and the central states of the United States.
  • Broad Reach Power skills, tools and teams are the perfect fit, in and outside the United States, with ENGIE’s integrated model.
  • The acquisition will support the Group's goal of having 10 GW of battery capacity globally by 2030.

Broad Reach Power Acquired by ENGIE from EnCap Energy Transition and Apollo Funds

Retrieved on: 
torsdag, augusti 24, 2023
Professional Services, Technology, Utilities, Batteries, Energy, Finance, EnCap, BRP, ERCOT, Electric Reliability Council of Texas, CAISO, GW, Point of sail, Mercuria, Corinne, Sale, Duck Reach Power Station, Wind, Energy transition, Acquisition, Work, ENGIE, Mountain West Conference, Pleasure, Growth, Cryptocurrency, Renewable energy

EnCap Energy Transition today announced that French multinational utility company ENGIE has agreed to acquire the battery storage business of Houston-based Broad Reach Power from EnCap Energy Transition Fund I, its co-investment partners Yorktown Partners , Mercuria Energy and Apollo Infrastructure Funds (the “Apollo Funds”) for a total equity value in excess of $1 billion.

Key Points: 
  • EnCap Energy Transition today announced that French multinational utility company ENGIE has agreed to acquire the battery storage business of Houston-based Broad Reach Power from EnCap Energy Transition Fund I, its co-investment partners Yorktown Partners , Mercuria Energy and Apollo Infrastructure Funds (the “Apollo Funds”) for a total equity value in excess of $1 billion.
  • Since Broad Reach was founded in 2019 with backing from EnCap Energy Transition, it has become a leading U.S. developer and operator of renewable energy and energy storage power projects in Texas, California and other markets.
  • Apollo Funds acquired a 50% stake in the company and joined the Board in December 2021.
  • Together with EnCap and the Broad Reach Power management team, we’ve built what we believe is the leading and most innovative battery storage IPP in North America.

NOG Closes Novo Acquisition

Retrieved on: 
tisdag, augusti 15, 2023
Oil, Gas, Energy, EnCap, NOG, Egyptian Natural Gas Holding Company, Acquisition, NYSE, Novo

Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”) closed its previously announced acquisition of Northern Delaware Basin assets from Novo Oil & Gas Holdings, LLC, an EnCap portfolio company (“Novo”), on August 15, 2023.

Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”) closed its previously announced acquisition of Northern Delaware Basin assets from Novo Oil & Gas Holdings, LLC, an EnCap portfolio company (“Novo”), on August 15, 2023.
  • NOG jointly acquired the assets with Earthstone Energy, Inc. (“Earthstone”), which will become the operator of substantially all the assets.
  • In connection with the transaction, NOG and Earthstone entered into cooperation and joint operating agreements, which include a multi-year development plan for the Novo assets.
  • At closing, NOG paid $468.4 million in cash, funded in part by a $37.5 million deposit paid at signing in June 2023.